Disclaimer

This website with the information of the Annual Report 2006 is a translation of the Dutch Annual Report of n.v. Nuon for the financial year 2006. Although this translation has been prepared with the utmost care, deviations from the Dutch Annual Report might nevertheless occur such that the information on this website may be misinterpreted or different conclusions may be drawn. In this case, the printed version of the Dutch Annual Report 2006 prevails.

Parts of this report contain prospective information. These parts – without exceptions — may include unqualified statements on future operating results, government measures, the impact of other regulatory measures on Nuon’s activities, Nuon’s shares and those of its subsidiaries and joint ventures in existing and new markets, industrial and macro-economic trends and Nuon’s performance in these, and statements preceded or followed by or containing words such as ‘believes’, ‘expects’, ‘anticipates’ or similar expressions. These prospective statements are based on the current assumptions concerning future activities and are subject to uncertainties and other known and unknown factors, many of which are beyond Nuon’s control, so that future actual results may differ significantly from these statements.

The Upper Chamber of the Dutch Parliament adopted the Law on Independent Grid Management in November 2006. Nuon is currently assessing the

consequences of the Act.

‘Nuon’, ‘the company’, ‘the Nuon Group’ or similar expressions are used in this report as a synonym for Nuon and its subsidiaries.